- Research Article
1
- 10.7232/iems.2025.24.1.001
A Financial Examination of the Predicting of Fluctuations in the Price of Oil Using Statistical Models
- Mar 31, 2025
- Industrial Engineering & Management Systems
- Roaa Mohammed Kahdim + 4 more +4
In this research, economic and financial development was the focus of this report, which examined how that growth affected oil prices. The country's economic and governmental plans are put into action. This study's objectives include developing policy alternatives for minimizing the economic and financial implications of oil price variations and making accurate future predictions of OPEC's oil drum prices. Oil price predictions can be improved even further by using the financial statement. Because the data contains two different types of time series (VECM and GARCH), Statistical software is the tool of choice for data analysis. In order to produce good predictions regarding oil prices, additional software (SPSS) is needed because the data is both linear and nonlinear. To predict the price of oil in the future, linear data can be analyzed using VECM (2,2,1).
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